Will today be a gap up and run up day or run down day? You name your bet !
You already know my bet, right ?
Happy Friday ! Today is the last trading day of the month !
A Gap up this morning signals a good start for bulls, as predicted yesterday before the market close [1]
Oil hits $66, a 6 months high. Precious metals climb up as well, and gold hits 974.7. EURO shoots up straight after a consolidation, and it is above 1.41, my goodness.
Yesterday's hanging man [2] pointed to a very expectable new higher high in the near future.
The U.S. economy sank at a 5.7 percent pace in the first quarter, which is bad.
GM is dropping again, as predicted yesterday, GM will soon break down $1 benchmark. If you want to try your luck on GM, here is my idea: buy the GM June $1 calls at about 5 cents, and wait to see if the calls die or 10-20 bagger ? It's high risk, but high return as well.
PPCO is still struggling to jump over 2.25. Volume is surprisingly low.
EXEL gains energy again.
PDS shoots above $6 now, one of our 10 bagger list [3]
[1] predicted gap up
[2] Hanging man
[3] 10 bagger list
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It seems GM will file chapter 11 next Monday.
ReplyDeleteGM is below $1 now.
ReplyDeleteTA
Will GM bring down the general market ?
ReplyDeleteTA
TA,
ReplyDeleteGM may hurt the market, for sure.
Tiger
People don't care about GM .. The price has been kept up by day traders wanting a .05 swing.. Now it's being hammered by shorts.
ReplyDelete$TRIN, $VIX, $TICK pretty much show it's a neutral day, but the last day of the month is typically "bullish".
The run up on oil is scary for recovery in the US economy.
Not sure I'll buy into anything today.. not enough volume to signal a buy and carry over the weekend with the China thing going on.. So i'll just baghold what I have .. unless I see something really hit a nice triple bottom and shows heavy support at that level (with 80%+ volume).. we'll see..
Ben,
ReplyDeleteI have no plan for today as well. Relax and enjoy ! Please let us know your picks and thoughts. Thanks and have a good day.
Tiger
Today, the market's fluctuation is more than I thought.
ReplyDeleteTiger
I dumped TBT for a very very very small gain.
ReplyDeleteStill not looking at anything.. quite boring today.. stuff is all over the place and low volume shows complete indecision again.. if it stays like this I don't think the required confirmation for yesterday's sticks will happen.
High Wave still in place most likely.. might see a dip last hour like we had in previous sessions that looked like this.
Ben,
ReplyDeletegood for you on TBT.
Tiger